Scout Energy Partners has announced the sale of certain oil and gas assets in the Western Anadarko Basin, US for over $1bn to an unnamed buyer.
The Texas-based private energy investment manager said that the transaction reflects its focus on strategic asset management and creating value.
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The assets are strategically located within a major North American natural gas field.
They feature substantial midstream infrastructure, including three gas processing plants, more than 7,200 miles of gathering pipelines, and nearly 400,000 horsepower of compression capacity.
Part of a long-standing conventional business, the portfolio encompasses operated upstream and midstream ownership.
The assets yield about 250 million cubic feet equivalent per day of natural gas, natural gas liquids, and helium, spanning roughly three million acres.
Completing this sale marks another milestone for Scout Energy Partners as it continues to optimise its portfolio and implement its strategy of acquiring, operating, and enhancing upstream energy assets and midstream infrastructure.
RBC Capital Markets served as the exclusive financial adviser to Scout Energy Partners for the transaction.
Scout Energy Partners co-founder and managing director John Baschab said: “We are happy to announce the successful conclusion of this divestiture.
“This is an important position that we built meticulously over a decade through multiple acquisitions, creating value through integration and operating improvements. We are pleased to pass on stewardship of these assets for their next chapter.”
Since its inception in 2011, Scout Energy Partners has secured nearly $2.5bn in equity commitments and completed over 60 acquisitions of energy assets.
The company’s acquisition interests focus on mature assets with existing production and cash-flowing reserves. It also targets shallow, proven reservoirs with well-established infrastructure and predictable production forecasts, particularly where there are identifiable opportunities for improvement.
In addition, the company considers geologically and geographically diverse assets that align with its production profile, preferably in areas where Scout Energy Partners has operating or development experience.
Generally, it avoids highly competitive areas, offshore or water-based assets, urbanised or densely populated regions, and acreage-heavy assets that depend primarily on upside potential to generate returns.
